BJP leader and former MLA Thouti Nandeshwar Goud’s son and his relative were booked by Punjagutta police on charge of cheating State Bank of India’s Small and Medium Enterprises unit of Somajiguda branch.
According to the police, they received a court referred complaint filed by SBI SME’s chief manager Rajula Satish Kumar that Thouti Sumanth from Kukatpally and Mr. Goud’s son Thouti Ashish Goud from Patancheru of M/s Sivanta Pharma, Venkateshwara Enclave, Beeramguda, approached the the bank stating that their firm was engaged in trading of basic raw material to pharmaceuticals for manufacturing of active pharma ingredients and bulk drugs and requested for sanction of credit facilities of ₹2.50 crore for their business.
Based on their representation, assurance and promises, they were sanctioned ₹2.50 crore on May 24, 2018 and the accused executed all the necessary security documents. The loan facility was primarily secured by hypothecation of stocks and receivable and equitable mortgage of residential building owned by Ashish Goud measuring 460 square yards in Survey No. 740, situated in Goutham Nagar, Patancheru (G+4 floors building consisting of total 16 flats).
